South Korea's Upbit Lists Three New Tokens Amid Regulatory Shift

South Korea is undergoing a significant transformation in its approach to cryptocurrency regulation, with Upbit, one of the country's leading exchanges, recently listing three new tokens: Hyperlane (HYPER), RedStone (RED), and Sophon (SOPH). This move coincides with the Democratic Party of Korea's announcement to propose the Crypto Basic Act, which aims to establish a comprehensive regulatory framework for digital assets. The new bill will cover the issuance, distribution, listing, and oversight of digital assets, marking a shift from user protection to full-scale industry development.

Hyperlane and RedStone are now available for trading on Upbit, with pairs launched against BTC and USDT. Hyperlane is an open-source protocol designed for blockchain interoperability, enabling secure and flexible connections between different chains. This allows developers to build cross-chain applications with customizable messaging security. RedStone, on the other hand, is a decentralized finance oracle service that provides fast and scalable data feeds to DeFi protocols, aiming to offer modular oracle solutions for blockchain ecosystems. The listing of these tokens reflects a growing market interest in infrastructure-focused blockchain solutions.

The Democratic Party of Korea's proposed Crypto Basic Act is set to broaden the regulatory scope for digital assets in the country. The bill will cover various aspects of the crypto industry, including asset issuance, distribution, exchange listings, and regulatory oversight. Unlike previous proposals, the new bill allows individual exchanges like Upbit and Bithumb to manage their own listings and delistings independently. A Listing Review Committee will support this process but will not hold exclusive power, aiming to protect domestic competitiveness and retain strong blockchain projects. The bill also mandates clear listing standards and includes penalties for violations, ensuring a more transparent and enforceable regulatory environment.

Sophon (SOPH) is the third token listed by Upbit and will be tradable in KRW, BTC, and USDT pairs. Sophon is a consumer-facing blockchain that uses the ZK Stack, based on zkSync’s Elastic Chain model. This blockchain provides Ethereum-level security and ZK ecosystem interoperability, marking an expansion of Upbit’s token offerings aligned with zero-knowledge proof innovations. The Sophon Chain network, which supports deposits and withdrawals, runs on core elements such as ZK Router and ZK Gateway, enabling smooth operation within the ZK Stack ecosystem. Upbit has emphasized that trading will begin only after securing enough liquidity to ensure stable trading for users.

Within the Sophon ecosystem, the SOPH token serves multiple roles. It will be used for staking and governance, allowing token holders to participate in decision-making processes and secure the network. Additionally, SOPH will act as a utility token for dApps built on Sophon, with transaction fees on the Sophon Chain payable in SOPH. This model mirrors other consumer-oriented blockchains and highlights low-latency performance and seamless user experiences. Sophon aims to bridge mainstream users with advanced blockchain infrastructure, targeting mass adoption through user-centric design and strong technical architecture.

Upbit will closely monitor internal liquidity before enabling full trading for Sophon (SOPH). The exchange will announce deposit and trading schedules once liquidity conditions are met, advising traders to follow official updates for real-time information. The listing of these new tokens comes as South Korea prepares to implement the Crypto Basic Act, which allows individual exchanges to manage listings while ensuring transparency and enforcement. This shift supports a more flexible and competitive market structure, with market participants expecting early trading activity to build gradually. Attention will remain on how exchanges adapt to upcoming regulations and how new tokens perform under the evolving framework.

The addition of Hyperlane and RedStone aligns with Upbit’s focus on tokens with strong utility. Hyperlane strengthens blockchain interoperability, while RedStone enhances DeFi data integrity. Sophon reflects rising interest in ZK-based networks, combining Ethereum security with user-centric innovation. As South Korea moves toward a more comprehensive regulatory environment, the performance of these new tokens and the adaptability of exchanges will be crucial in shaping the future of the digital asset market in the region.